INVESTMENT BY ESCROW AGENT Sample Clauses

INVESTMENT BY ESCROW AGENT. The Escrow Agent shall invest the Initial Escrow Amount in a Canadian interest-bearing account or Canadian term deposit maintained or issued by a Canadian chartered bank chosen by the Escrow Agent (collectively, “Permitted Investments”). The Escrow Agent may sell, exchange, redeem and otherwise transfer all or any part of the Escrow Funds and reinvest the proceeds of such transfers in Permitted Investments. The Escrow Agent is also authorized and directed to sell, exchange, redeem and otherwise transfer all or any part of the Escrow Funds, without further instructions, as may be necessary from time to time to pay any amount required to be disbursed pursuant to this Agreement. The Escrow Agent will provide the Purchaser and the Sellers’ Representative, upon written request by either Party, with a statement showing all transactions involving the Escrow Funds up to and including the statement date. Promptly following the date on which all Escrow Funds are disbursed, the Escrow Agent will provide the Purchaser and the Sellers’ Representative with a final statement showing all transactions involving the Escrow Funds.
Sample 1
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INVESTMENT BY ESCROW AGENT. Any Escrowed Property in the form of cash shall be invested or reinvested by the Escrow Agent without unreasonable delay and only in such obligations which are (a) securities issued or directly and fully guaranteed or insured by the United States of America government or any agency or instrumentality thereof having maturities of not more than one year from the date of acquisition, (b) marketable direct obligations issued by any State of the United States or any political subdivision of any such State or any public instrumentality thereof maturing within one year from the date of acquisition thereof and, at the time of acquisition, having one of the two highest ratings obtainable from either Standard & Poor’s Rating Group, a division of XxXxxx-Xxxx, Inc. (together with its successors, “S&P”) or Xxxxx’x Investor Service, Inc. (together with its successors, “MOODY’S”) (c) demand deposits, time deposits and certificates of deposits with maturities of one year or less from the date of acquisition, bankers’ acceptances with maturities not exceeding one year from the date of acquisition and overnight bank deposits, in each case with any bank or trust company organized or licensed under the laws of the United States of America or any State thereof having capital, surplus and undivided profits in excess of $250 million, (d) repurchase obligations with a term of not more than seven days for underlying securities of the type described in clauses (a), (b) and (c) above entered into with any financial institution meeting the qualifications specified in clause (c) above, (e) commercial paper rated at least P-1 by Moody’s and A-1 by S&P at the time of acquisition thereof or, if such commercial paper is rated by only one such agency, at least such rating from such agency, and (f) investments in any Dollar denominated money market fund as defined by Rule 2a-7 of the General Rules and Regulations promulgated under the Investment Company Act of 1940, as shall be designated in writing from time to time by the Company. Temporarily uninvested funds held hereunder shall not earn or accrue interest.
Sample 1
INVESTMENT BY ESCROW AGENT. 3.1 The Escrowed Property shall be invested or reinvested by the Escrow Agent without unreasonable delay in the Fifth Third Prime Money Market Fund (N). Temporarily uninvested funds shall not earn or accrue interest.
Sample 1
INVESTMENT BY ESCROW AGENT. The Escrow Agent shall, as directed by Enterprise, invest the Escrow Amount in (i) obligations of, or fully guaranteed by, the United States of America or any agency thereof, (ii) commercial paper rated of the highest quality by Moodx'x Xxxestors Services, Inc. or Standard & Poor's, (iii) Certificates of Deposit (having a term of not more than 90 days) issued by a commercial bank having at least $10 billion in assets or (iv) upon the concurrence of Aviant, in units of a money market mutual fund, including without limitation any offered by Escrow Agent or an affiliate of Escrow Agent, after the party directing such investment has received a prospectus. Absent its receipt of such investment directions from Enterprise, the Escrow Agent shall invest the Escrow Amount, and any interest or earnings thereon, in one of the instruments described in clauses (i), (ii) or (iii) above, as directed by Aviant, or, in the absence of directions from Enterprise or Aviant, in the Parkstone Treasury Money Market Fund Institutional Shares. Any interest or earnings with respect to such investment of the Escrow Amount shall be paid as set forth in this Agreement. If for any reason the Escrow Amount is inadequate to pay the amounts that Aviant is entitled to hereunder, Enterprise shall be liable for the payment of such additional amounts as are required.
Sample 1
INVESTMENT BY ESCROW AGENT. $10 million of Escrowed Funds (plus income accrued thereon as from the date hereof) shall at all times be held in the AIM Prime Portfolio Private Class Fund unless (i) Salmon Creek shall instruct the Escrow Agent in writing to invest all or a portion of such Escrowed Funds in another institutional money market fund registered under the Investment Company Act of 1940 or (ii) the Escrow Agent shall have received a request for the disbursement thereof in the form of Annex 2 attached hereto or in accordance with the provisions of Section 5(k).
Sample 1
INVESTMENT BY ESCROW AGENT. From the date of deposit hereunder until the termination of this Agreement, the Escrow Property shall promptly be fully invested by Escrow Agent as directed by Seller from time to time solely in direct obligations of, or obligations guaranteed as to all principal and interest by, the United States of America, in each case with maturity dates of 91 days or less and in no event maturing later than 1 year following the Closing Date. Temporarily uninvested funds held hereunder shall be held in a money market savings account established for that purpose or otherwise as directed by Seller; provided, that the Depositors may direct Escrow Agent by joint written instruction that such funds should thenceforth be held available for immediate distribution, without the earning or accrual of interest thereon.
Sample 1

Related to INVESTMENT BY ESCROW AGENT

  • Acceptance by Escrow Agent The Escrow Agent hereby accepts and agrees to perform its obligations hereunder, provided that:

  • Assignment by Executive This Agreement shall inure to the benefit of and be enforceable by the Executive's executor and/or administrators, heirs, devisees, and legatees. If the Executive should die while any amount would be payable to Executive hereunder had the Executive continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to the Executive's estate. Executive's rights hereunder shall not otherwise be assignable.

  • AMENDMENT BY EMPLOYER The Employer has the right at any time and from time to time:

  • MANAGEMENT BY MEMBERS Management of the Company shall be vested in its members. The members shall have the exclusive right, power and authority to manage and operate the business and affairs of the Company and to authorize any act or transaction on behalf of the Company. The members may from time to time appoint and delegate authority to act on behalf of the Company to such officers as the members deem appropriate. Any deed, agreement or other instrument, whether or not for apparently carrying on in the usual way the business or affairs of the Company, shall be binding on the Company and may be relied upon by any person or entity which is supplied with such executed deed, agreement or other instrument, if the same is executed on behalf of the Company by a member.

  • Management by Manager i) The Member hereby elects Charter Communications, Inc., a Delaware corporation (formerly known as CCH I, LLC) (“CCI”), or its successor-in-interest, as the Company’s manager (the “Manager”). CCI shall be the Manager until a simple majority of the Votes elects otherwise. No additional person may be elected as Manager without the approval of a simple majority of the Votes (for purposes of this Agreement, to the extent the context requires, the term “person” refers to both individuals and entities). Except as otherwise required by applicable law and as provided below with respect to the Manager’s board of directors (the “Board”), the powers of the Company shall at all times be exercised by or under the authority of, and the business, property and affairs of the Company shall be managed by, or under the direction of, the Manager. The Manager is a “manager” of the Company within the meaning of the Act. Any person appointed as Manager shall accept its appointment by execution of a consent to this Agreement.

  • Assignment by Members No Member shall sell, assign or transfer, or offer to sell, assign or transfer or otherwise Dispose of all or any part of such Member’s Units or other interests in the Company (whether voluntarily or involuntarily) without the prior written consent of the Majority Members.

  • Acknowledgment by Executive The Executive acknowledges and confirms that (a) the restrictive covenants contained in this Article 6 are reasonably necessary to protect the legitimate business interests of the Company, and (b) the restrictions contained in this Article 6 (including without limitation the length of the term of the provisions of this Article 6) are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kind. The Executive further acknowledges and confirms that his full, uninhibited and faithful observance of each of the covenants contained in this Article 6 will not cause him any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not impair his ability to obtain employment commensurate with his abilities and on terms fully acceptable to him or otherwise to obtain income required for the comfortable support of him and his family and the satisfaction of the needs of his creditors. The Executive acknowledges and confirms that his special knowledge of the business of the Company is such as would cause the Company serious injury or loss if he were to use such ability and knowledge to the benefit of a competitor or were to compete with the Company in violation of the terms of this Article 6. The Executive further acknowledges that the restrictions contained in this Article 6 are intended to be, and shall be, for the benefit of and shall be enforceable by, the Company’s successors and assigns.

  • Assignment by Purchaser The Purchaser shall have the right, without the consent of the Company but subject to the limit set forth in Section 2.02 hereof, to assign, in whole or in part, its interest under this Agreement with respect to some or all of the Mortgage Loans, and designate any person to exercise any rights of the Purchaser hereunder, by executing an Assignment and Assumption Agreement and the assignee or designee shall accede to the rights and obligations hereunder of the Purchaser with respect to such Mortgage Loans. All references to the Purchaser in this Agreement shall be deemed to include its assignee or designee.

  • Management by Member The management of the Company shall be vested exclusively in the Member. The Member, in its capacity as sole Member, may make all decisions and take all actions for the Company as in its sole discretion it shall deem necessary or appropriate to enable the Company to carry out the purposes for which the Company was formed including, without limitation, the following:

  • Assignment by Buyer Buyer shall have the right to assign this Agreement to any third party or parties and no consent on the part of Seller shall be required for such assignment, provided however, that any such assignment shall not relieve Buyer of its liabilities and obligations hereunder.

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